In the A+/B- small SUV group, there are not many choices for customers in Vietnam, with only 4 products. VinFast VF 5 alone accounts for more than half of sales.
In January, sales of this segment fell sharply by 37% compared to December 2024 due to a general market weakness and coinciding with the Lunar New Year holiday period. All models in the segment saw sales decline.
VF 5 sales decreased by 33% compared to last month, reaching 3,300 vehicles (rounded number) but still completely outperformed the remaining competitors.
Continuous promotions such as cash discounts and free charging have made the VF 5, the only pure electric vehicle in its segment, more attractive to Vietnamese customers. Unlike competitors such as Kia Sonet, Hyundai Venue, and Toyota Raize, whose owners often only use the car for daily personal transportation, the VF 5 is also a business vehicle for many customers.
The fact that transportation service businesses have gradually switched from gasoline vehicles to electric vehicles in the past two years has also helped the VF 5 gain more sales output. According to sales experts, the monthly sales of thousands of VF 5 vehicles not only narrows the market share of competitors in the segment, but also affects the adjacent segment, the A-size hatchback.
If we only consider gasoline cars, Kia Sonet is still the best-selling name. With the advantage of domestic assembly, diverse versions to choose from and a wide price range, Sonet has a clear advantage over Hyundai Venue, a domestic competitor currently assembled by Hyundai Thanh Cong.
Toyota Raize was the model with the second largest sales decline in January (57%) after Venue (68%). The impact of supply caused Toyota's sales to decline, in addition to the general downward trend of the market. For Venue, demand for the car decreased when the preferential registration fee for domestically assembled cars ended. Hyundai's sales have decreased since December.
In terms of market share, the VF 5 alone accounted for nearly 80% of the segment in January. In 2024, VinFast said it would deliver more than 32,000 VF 5s, or an average of more than 2,600 vehicles per month. Meanwhile, the combined sales of Raize, Sonet, and Venue reached 16,196 vehicles, about half that of the VF 5.
Source: https://baodaknong.vn/vinfast-vf-5-ban-nhieu-hon-tat-ca-doi-thu-cong-lai-243617.html
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